Lenny Loans

lendingonline loans

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 01/05/2020

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MEDICI Analysis

Lenny is a mobile led lending app offers initial credit lines of up to $500 to students based on their GPA. It helps users secure credit and boost their credit rating to help in later life.

Focus

PRODUCTS & SERVICES

Line of credit services on mobile app - for students. It borrows funds instantly at low interest rates. It help individuals improve their credit scores by informing major credit bureaus when payments are made on time.

REVENUE MODEL

Company generates revenue through various fees. Annual memebership fee: $ 19.99 Penalty fee: $29 Check payment fee: $15.

MAIN CLIENTS

Students

EXISTING PARTNERSHIPS

Partnered with Dwolla-provides payment services.

COMMENT

The focus is on millennials and credit worthiness of students is assessed on a multitude of criteria including their GPA.

company provided insights

People

company provided insights

Momentum

FUNDED

NO

LISTED

NO

Innovation Programs

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